Orissa to frame pricing policy for ore supply to local industries

Orissa : Amid allegations of supply of mineral ores at exorbitant prices by Orissa Mining Corporation (OMC) to the local steel industries, the state government has decided to frame a pricing policy for raw material sales to mineral processing units.

The policy, which is expected to be formulated soon, is aimed at ensuring raw material supply to the existing units and industries coming up through the MoU (Memorandum of Understanding) route, at optimum prices.

“We will be coming out with a pricing policy for supplying raw materials to the local industries at optimum prices. The policy will take into account the international prices, London Metal Exchange (LME) prices and price at which National Mineral Development Corporation (NMDC) is selling iron ore.